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A company issues 500 shares of $10 par value common stock and 200 shares of $20 par value preferred stock for a lump sum of

A company issues 500 shares of $10 par value common stock and 200 shares of $20 par value preferred stock for a lump sum of $234,000. At the issuance, only the market price of the common stock is known and it is $210 per share. In the journal entry to record the issuance, how much should be recorded for Paid-in Capital in Excess of Par Preferred Stock?

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